The existing home sales figure, published on April 20th at 14:00 GMT, is the widest measure for the American housing sector. The publication shakes the dollar across the board, with USD/JPY being the most sensitive barometer. Here’s what’s expecting us, with 5 possible outcomes. Background The US manufacturing sector is growing. So is the services … “USD/JPY – Trading the US Existing Home Sales”
Author: admin_mm
GBPJPY Set To Extend Weakness
GBPJPY – With the cross capping gains and tumbling off the 139.90 level to wipe out its past previous week gains and close lower, further weakness is now likely as we enter a new week. Guest post by www.fxtechstrategy.com Although this is a correction of its rally from the 122.40 to 139.99 levels, any further weakness … “GBPJPY Set To Extend Weakness”
Aussie Ends Week Flat vs. Greenback & Euro, Falls vs. Yen
The Australian currency fell against the Japanese yen over the week on concerns about Europe’s debt problems and China’s possible austerity measures. The Aussie managed to erase losses versus the euro and the US currency on the signs of the global growth and increasing commodity prices. China, the biggest trading partner of Australia, still attempts to cool its overheating economy, but such attempt remain without success so far. The accelerating inflation spurred talks that … “Aussie Ends Week Flat vs. Greenback & Euro, Falls vs. Yen”
Kiwi at Three-Year High Against Greenback
The New Zealand dollar rose against other most-traded currencies, jumping to the highest level in three years, after Finance Minister Bill English claimed that the fast growth of the inflation won’t damage the nation’s economy. English said: There will be some pressures there as the economy picks up, but weâre in pretty good shape on inflation. The kiwi, as the New Zealand currency is nicknamed, rose also as the rallying commodity prices … “Kiwi at Three-Year High Against Greenback”
CAD Rives vs. USD & EUR on Rally of Commodities, Falls vs. JPY
The Canadian dollar advanced versus the US dollar and the euro after crude oil gained. The currency fell against the Japanese yen on prospect of increasing tightening in China. The good economic reports from the US today allowed commodities, including crude oil, to rally today. Contract for crude oil delivery gained as much as 1.6 percent to $109.66 per barrel in New York, following the decline by 0.8 percent. Raw materials, including crude, make … “CAD Rives vs. USD & EUR on Rally of Commodities, Falls vs. JPY”
USD/JPY Faces Further Downside Pressure
USDJPY: The pair’s corrective weakness remains in place as it continues to face bear threats. Despite this, USD/JPY is still biased to the upside in the short term. Guest post by www.fxtechstrategy.com For the pair to reverse its current corrective weakness and resume its uptrend, the pair will have to break and hold above the 85.49 … “USD/JPY Faces Further Downside Pressure”
Aussie Weakens on China’s Rates Outlook
The Australian dollar dropped today versus the euro and fluctuated against the US currency on the speculation that China will increase its interest rates to rein the rapid growth of the economy. The inflation, that grew 5.4 percent in March, may encourage China to increase the reserve for banks as early as today. China’s economy expanded 9.7 percent last quarter, compared to the average forecast of 9.4 percent. The MSCI Asia Pacific Index of shares slipped 0.6 … “Aussie Weakens on China’s Rates Outlook”
Euro Drops as Moody’s Cuts Ireland’s Credit Rating
The euro went down today after Moodyâs Investors Service downgraded Ireland’s credit rating, fueling worries that debt problems will cripple the peripheral economies of the European Union. Moody’s lowered Ireland’s rating by two notches from Baa1 to Baa3, one notch above the so-called “junk” status. The reasons for the downgrade were the weaker economy of the nation and the rising borrowing costs. Standard & Poor’s said that Greece would face … “Euro Drops as Moody’s Cuts Ireland’s Credit Rating”
Pound Gains as UK Consumer Confidence Improves
The Great Britain pound jumped today after the report showed the improvement of the UK consumers’ confidence, encouraging analysts to talk about a possible increase of the lending rates by the nation’s central bank. The Nationwide report about Britain’s consumer confidence showed that the confidence index increased from 39 in February to 44 in March. That’s compared to the median forecast of 40. The report said that the consumers’ “assessments of their present situation remain subdued”. Bets … “Pound Gains as UK Consumer Confidence Improves”
CAD Goes Lower on Europe’s Woes, Recovers vs. USD
The Canadian dollar fell today as concerns about the sovereign-debt crisis in Europe sapped demand from growth-related currencies. The loonie erased its losses versus the US dollar. Worries about Europe’s debt crisis intensified after Germany’s Finance Minister talked about restructuring of the Greek debt. Blake Jespersen, a director of foreign exchange at Bank of Montreal, explained: Risk is just coming off, mostly due to Europe. All of a sudden the market … “CAD Goes Lower on Europe’s Woes, Recovers vs. USD”